This is among the vital steps to be taken for this Rs 1350 crore plus revamp of world Heritage site. Now this proposal will be sent by the Indian Railways to a committee comprising of Niti Aayog for final approvals.
In the previous plan, CSMT was to be leased out for 99 years but now the rail authorities will hand over the station within 27 years. "We have adopted the Hybrid Annuity Model for funding redevelopment of CSMT station. The PPP model has been replaced by it," said Anil Kumar Lahoti, General Manager, Central Railway.